S&P assigns 'A-' rating to CareGroup's bonds

Standard & Poor's Ratings Services has assigned an "A-" long-term rating to Boston-based CareGroup's series 2016 revenue bonds, affecting $321 million.

CareGroup is the parent holding company of Boston-based Beth Israel Deaconess Medical Center.

"We believe CareGroup's enterprise and financial profiles remain consistent with the rating, highlighted by continued patient revenue growth, adequate debt service coverage and sufficient balance sheet metrics for the rating," said S&P credit analyst Jennifer Soule.

The outlook is stable, reflecting S&P's view of CareGroup's steady overall patient revenue growth, healthy balance sheet metrics and expected stable financial profile.

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